The Bottineau pioneer. (Bottineau, N.D.) 1885-1895, 1887-12-15
PRESIDENTS nEsslaE.
Sxcsident Cleveland's Annual Essay
IA Congress Happily and Unex
pectedly Brief
No Topic Is Discussed Aside from the
Question Of the
Tariff.
4 Reduction OF the Treasury Surplus
Urged with All the Force Of
Earnest Argument.

The Removal or Material Lessening
Of the Duty on Wool Is Recon-
mended.
Congress Referred to the Department
Reports for an Account of Gov
eminent Operations.
P~REsENTED BY GROVER.
rhs PresfdonEs Message Devoted Exclu-
sive1y 10 the tariff Question-A Reduction
Of the surplus Urgently Urged.
To the Congress OF the United States: You
are c~onfrontedsa al the threshold Of your leg
laiative duties with q; condition Of the ma
stio~nsls6nances which iniperatively demands
immediate and careful consideration. The
amount Of money annually exacted, through
the operation Of present laws, from the In
dustries and necessities Of the people largely
exceeds the sum necessary to meet the ex-
penses of the government When we con-
sider that the theory Of our institutions
guarantee to evcry citizen the full enjoy
ments Of all the fruits of his industry and en-
terprise, with only such deduction as may
be his share towards the careful and econom-
Heal maintenance Of the government which
projects him. 1t is plain chat the exaction OF
more than this s indefensible extortion and
ascu|pable betrayalof American fairness and
Justice. This wrong inflicted upon those
who bear the burden Of national taxation,
like other wrongs. multiplies a brood Of evil
consequences Therpublic treasury. which
should only exist as q conduit con-
veying the people's, tribute to Its le-
Ultimate objects Of expenditure, be-
comes q boarding place for money need
iessly withdrawn from trade and the peo-
PIES use, thus Dripping our national ener-
giles, suspending our countrY's develop
ment, preventing investment in productive
enterprise, threatening financial disturb
ance inviting schemes Of public plunder.
This condition OF our treasury is not alto
gether new; and it has more than once of
late been submitted to the peoples repre-
Bentatives in the congress-, who alone can
apply d remedy. And vet the situation still
continues, with aggravated incidents, more
than ever presaging financial convulsion
and widespread disaster. II win not do to
neglect this situation because Its dangers are
not now palpably imminent and apparent.
They exist none The less certainly, and await
the unforeseen and unexpected occasion,
when, suddenly they will be prec1pitated
upon us, On June 80, 1855. b excess Of
revenues oyeI public expenditures after
complying with the annual requirement. of
the sinking fund act was $17 1854;
saurinR the year ended June 80. 1885, such
Ysscess amounted to $49.4O5, 545. 20; and
sssxring the year ended June 80, 1887, 1t
reached 500. 667 ,849.5O. The annual con-
tributions to !,
THE SINKING FUND
during the three years above specified,
O5s,32004, and deducted from the
surplus as stated. were made by
calling In for that purpose out
standing per cent bonds Of the govern
nlent During the six months prior to June
30. 1887, the surplus revenue had grown 30
large by repeated accommodations, and It was
feared the withdrawal OF this great sum ct
money needed by the people would SO affect
the business OF the country, that $79,S64,-
100 OF such surplus was applied to the pay
ment Of the principal and interest OF the93
per cent bonds still outstanding. and which
ernment The precarious condition of
financial affairs among the people still need
ing relief, Immediately after June so, 1887,
the remainder Of the 3 per cent bonds then
outstanding. amounting with principal and
interest to $18.877, 800, was called In and
applied to the sinking-fund contribution for
the current fiscal year. Notwithstanding
these operations OF the treasury department
representations of distress in business cir
cles not only continued but Increased, and
absolute peril seemed at hand In these cir
8cumstances the contribution to the sinking
fund for the current fiscal year was at once
completed by the expenditure Of $27.684,-
283s65 in the urchase Of government bonds
not yet due bearing A and 4l2 per. cent inter
est. the premium paid thereon averaging
~ NrH ~ - - E4s H. O.Srn 49, O